Do you keep hearing people talk about blockchain, bitcoins, and
ICOs with no idea what they mean? – Here's a short
glossary to help you understand what the fuss is all about.
Decentralized coins/digital coins
These coins are basically digital money that is secured through
encryption technology (cryptocurrency). Digital currencies are not
issued or managed by any country or central bank. Thus, their value
is not under their control, but rather is determined by the
agreement of and according to the demand among the network of
users.
Bitcoin
The bitcoin is the first digital currency used, and the first
and most famous application of blockchain technology.
Digital wallet
A digital wallet is software that is linked to the digital
currency network. It enables the user to hold, transfer, and
receive digital currencies. Every digital wallet has two
"keys"-a public key and a private key. The public key
corresponds to the bank account number, i.e. the address to
